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HMRC internal manual

Employment Related Securities Manual

University Spin-outs

There is a duty to provide information on events relevant to Chapter 4A, such as the transfer of the IP, via the ERS Online Service. The information  must be submitted by 6 July following the end of the tax year (5 April) to which it relates. There is provision to indicate where market value was affected by a spin-out, as under ITEPA03/S459(4) reportable events include receipt of a benefit that would give rise to a taxable amount but for Chapter 4A. Either or both of the RI and the spin-out may be responsible for making the return, although in practice only one of them would need to do so. See ERSM140000 for more guidance on completing the annual return.